Growth Of Advanced Orthopedics & Orthopedic Implants

Orthopedic procedures are anticipated to grow 3–4% annually through 2015. Research companies and analysts estimates that the global market for advanced orthopedics will grow from $35.3 billion in 2013 to nearly $36.4 billion in 2014, continuing to increase at a compound annual growth rate (CAGR) of 3.0% for the period of 2014 to 2019 reaching nearly $42.2 billion in 2019.

Stable and growing demand for orthopedic implants is driven by:

• An aging population will require more orthopedic implants; by 2015P, the U.S. population over 65 years old will reach 48 million, an increase of over 18% from 2010
• A rise in osteoporosis-related fractures and musculoskeletal diagnoses are driving increased orthopedic procedure volume, particularly for individuals age 65 or older
• Medical expenditures related to obesity have doubled over the last decade and currently represent an annual spend of approximately $150 billion in the U.S.
• Active lifestyle trends have resulted in increased implant volumes for younger demographics
• Technology advances are making devices last longer, fueling younger patient acceptance of “life-long” implants

The global market for joint replacement, implant, and regenerative products is expected to grow from about $30.1 billion in 2014 to $34.4 billion in 2019, with a CAGR of 2.7% over the forecast period.

The global market for cartilage, soft tissue repair, and regenerative products will increase at a CAGR of 6.6% to reach about $2.5 billion in 2019, up from an estimated $1.8 billion in 2014.